Generalized System of Preferences (GSP)

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Generalized System of Preferences (GSP)

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22-Dec-20

Generalized System of Preferences (GSP)

Effective Jan. 1, customs brokers will need to obtain and pay duties from importers for merchandise that has been eligible for duty-free treatment from nearly 120 designated beneficiary countries and territories. CBP is expected to issue instructions advising importers, through their customs brokers, to flag GSP-eligible imports with the applicable special program indicator but to pay the appropriate normal trade relations (column 1) duty rates until the trade program's renewal. As in similar previous expirations, it is expected that when Congress renews GSP it will provide for retroactive refunds and CBP will automatically refund duties for GSP-eligible goods submitted via ABI. Please contact your JSC account supervisor or sales rep for further information.